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Why SA artists die poor?

Freddie Mercury died at the age of 45. He was
worth an estimated $100mln. The legendary Mahlathini – who in my view was a
talent equal to that of Freddie Mercury – died at the age of 61. There are no
reliable sources of information for his net worth, but it is commonly
understood that it was not much.

South Africans are as talented as anyone else
from any nation in my view. So why then do our artists die poor?

Are they lazy? Are the financially illiterate?
Are they too dependent on someone else to make a living? Or do they just have a
fresh batch of bad luck?

I have pondered on this question, and here are
my 3 reasons why SA artists seldom escape the poverty trap:

1.You are a Business-man.

SA artists need to understand that they are
not just artists or creative beings. They are talent-preneurs. They make their
living through their talents. They must concern themselves with all aspects of
their business, sales, marketing, logistics and even financials.

2.Numbers are not only for accountants

Getting well versed with the numbers of your
business and knowing the difference between mark-up & gross margin, net
cash & accounts receivables or payment terms & working capital are not
boring concepts only for the accountant. They are logical pieces of information
that tell you how much you are creating, if at all.

3.Marriage is for lovers, not professional
colleagues.

No one was born and bred to ensure that you
are successful. No one! You do that for yourself. I have seen countless
talent-preneurs (singers, actors, idols judges, dancers and even speakers) sign
away their business to someone else. They sign with an agent who earns 25% of
their money (off the top) for facilitating a transaction.

So for merely picking up the phone, taking a
booking, sending a contract and getting the often non-complex logistics in
order, talent-preneurs will pay 25c of every rand they earn to someone else.
That’s ridiculous. Imagine Standard Bank giving away 25% of everything they
earn to someone else… just nje!

Often these agencies expect the talent to sign
an “exclusivity agreement” with them but they never sign an “exclusivity” with
the talent. Which means they represent as many artists as they wish & have
no vested interest any particular artist being successful.

4.A TV show does not a brand make.

Many talent-preneurs need to understand that
personal branding is not marketing. Just because you are on TV, radio or any other
media does not mean you have a “compelling value proposition” that customers
can only access through you. This is often why for many of our talent-preneurs,
radio or TV is a necessity. Without it, they cannot make a real living. So why is JayZ amongst the best selling
hip-hop artists in the world & unlike LL Cool J and the like, he does not
now nor have he ever had a TV show? Why did Michael Jackson set world record music
sales even though he didn’t have a reality TV show on Bravo? Why did Lebo Mathosa leave an incredible trail
of commercial success as an artist even though she did not have a show on Vuzu?

The answer is easy: Each of these
talent-preneurs were so well versed in their trade and I would argue understood
the levers upon which their commercial success rested that they didn’t need the
platform. They ran their business like a business. They were in charge. They
took their own bookings or managed the office the does. They built an
extraordinary brand around consumer experience. That’s why Afro-Jack has his
plane, and tour bus and booking agency.

2.Know your numbers. Know how many inquiries you
are getting, from whom, for what. If they don’t book you ask them why. That’s
how you gather market intelligence. Is someone else hotter at that time,
better, more affordable? The list is endless. The trick is to find out.

3.Invest in your brand beyond an acting role, a
radio show or TV presenter gig. Actually market yourself.

________________

Vusi is a Global Business
Speaker; a Listed Companies Director and a Private Equity Partner. Read
more of his articles on www.vusi,co.za